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tv   Countdown to the Closing Bell  FOX Business  December 6, 2012 3:00pm-4:00pm EST

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liz: i am liz claman. it is last hour of trading. count down to the closing bell, stocks are a no man's land grinding their way higher, not much convention. the green now weighs the red. as far as large concerned given the situation in washington a little bit of optimism over taking the picture. let's look at the dow 30, intel at the top. paul otellini said the new intel chief would most likely come from inside the company. intel up nearly 2%. that has always been the way at intel. they promote from within so clearly investors like that. cisco another decent name up 1%. no real news other than bargain hunting.
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we have amex and united health as the weak links. central-bank president mario draghi put it damper on what could have been a strong rally saying weakness in the euro zone is expected to continue for a while. it has been going on for quite some time. don't know why that is a surprise to the market. that means for the next couple years would central-bank is also cutting their 2013 forecasts for the region. the wild swings in apple just over the past couple days, yesterday apple tanked suffering its worst day in four years. today a tiny bit of a reprieve from the selling. noticed a sharp reversal at 10:00 this morning. buyers stepping in, all kinds of sound bites from tim cook who is the leader here. it didn't choose the market in any way for apple and oil is taking a still down for the third day in a row. part of the weakness due to supply. gasoline inventories jumping last weekend when you throw in the mario draghi a you see y
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crew is up 2% that is the interday picture. if you see what happened yesterday you would see the drop off and that is the market driver picking up what is moving these markets. coming a few minutes the recovery in housing. remember that? we are always talking about fiscal cliff but what about housing? is everything in your portfolio still depend on a recovery or is having an overall market driver lost its punch? liz and saunders, chief investment strategist at charles schwab and which sidles through and why she thinks the recovery is just beginning. this company depends on you making trades for your portfolio and so far you the retail investor are still on the sidelines. td ameritrade joe moakley weighs in on that, on whether the age of the supersized bank is over and the massive life change he made off of the sidelines and into a real football game. let's get to the floor show. we have freighters at the stock exchange, cme group and nynex. give me your thoughts. we go through grinding higher as
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far as the broader markets are concerned except for the russell which is looking weaker right now. just turned positive. we are all green for the major indices. does this continue through tomorrow? >> hard to tell. if you look at the way the markets have traded on an intraday basis we have seen this pattern over the last couple trading sessions we see a lot of intraday volatility, market opened higher after the opening, trade low and little by little we trickle higher and higher and as you get to the clothes we start to see a sell-off. we are seeing that exact pattern today, we are green now and have been up for a while and as we approach the highs -- liz: why is every midday slot -- is similar to what we saw two days ago. >> we see a lot of intraday trading. everyone is investing, people were investing for logger periods of time. with so much uncertainty they get in in the morning and out in the afternoon and back in and by the end of the day they want to be flat because anything can happen overnight. anything can come out of your
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core washington so every day as the new day. a week of tomorrow morning and played a market long or short especially with the economic data we got today leading to unemployment tomorrow. liz: what about those of us with day jobs? other than sitting in front of our tv ameritrade or who knows what account making our trade and especially when you see today the ten year yield in treasurys came down once again which makes me believe at certain points, treasury trade and a few trades coming in a matter what. >> it is defense. treasury will come down. they are treading water here which is a positive but volumes are down. volume is slightly over and the treasuuy auctions, the fed is going to announce some kind of treasury buying program to stimulate the economy and keep rates low and that will favor stocks so stocks will take care
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of what is going on in the treasury market. liz: cap it with the hurricanes and the effect which a reverse from negative to positive at some point. >> you saw jobless claims are up but sandy will handicap it a bit. we will won't see a clean job number until next year. once again it will be at my number and will be waiting for the fed. >> oil coming downn it is simply a story of a lot of supply, less demand. >> that has been the story for the last year. we had plenty of demand, plenty of supply, demand is only deteriorated as we have gone through the year and entering the season without a lot of driving going on. when you take out the fear we have of things going on in syria or iran you see us treating at $78 as opposed to where we are now but -- [talking over each other] liz: when you push it out a couple months to the future of the market and look at the trend -- >> it looks to me like we should be trading $3 or $4 or $6 or $8
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lower from here and look for the trend to continue as we go further through the winter unless something happens in the middle east. liz: thank you very much. grinding higher by 14 points. have a good day. thanks for joining us on the floor show. 25 days and counting for congress to make a deal otherwise more than $600 billion in tax increases and spending cuts kick in. the fiscal cliff potentially sending the economy into recession. the fear of the cliff. is that putting a veil over your eyes and pretending you seeing good news that could make better trades for your portfolio? you need to see the forest for the trees. to help do that, liz saunders in a fox business exclusive, charles schwab's vice president and chief investment strategist. what is the biggest mistake that the investor is making right now as it pertains to navigating that very rocky fiscal cliff landscape? >> they are trying to trade around perceived outcomes. that is fairly treacherous.
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we don't get a sense that a lot of investors are doing that -- [talking over each other] liz: there were buying in on the dips because they are trading around he headlines. >> there's a lot of tax related strategy happening right now, many of which make a lot of sense, but i have asked the question of loss, what would you put money on a particular outcome? i wouldn't. that is a dangerous strategy. >> one scenario could be as damaging as another. we can gain that at this point, what should people do with their money? >> there are certain things individual investors might do if they sit down with their advisor and there might be specifics tax strategies but that is very individual in nature. broadly we are not seeing trade, but fairly cautious on the relatively neutral so basically does make any big bets and keep things close to the best. woodinville the dust settles and there's probably more
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opportunity in 2013. liz: you do that in technology. why is that? >> we have seen a hit to the economy on the business side, and it is being felt this year. it is pent up demand in 2013 that i think would probably find a lot of dollars going to technology. there continues to be the need to invest in productivity going away. >> if your company is holding back on spending on newer computers, there's a cycle, we invest in that. we heard a lot of people say we won't have a real rally into housing comes back. does it still -- the the entire market depend on that? are people becoming in nord to the housing has to be -- >> it doesn't depend as much,
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people assume it doesn't matter anymore. what is being underestimated is a positive ripple effect. even bears concede we are seeing the beginning of a recovery. it is going to start to feed into confidence and even though it is only 2.7% gdp, and housing goes beyond not just the least being psychology. liz: we put together what i thought was a very cool charge because it shows a strong inverse correlation between housing starts and the unemployment level so what you saw was a huge difference, housing starts were dropping, unemployment went up. now you see a real trend in the reverse. there you see its being on the far right, starting to cross again. does that lead us to believe the unemployment rate might come down? >> the housing market, national
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association of home builders has become a proxy for housing broadly. with a 15 month lag that tends to track the unemployment rate and as a go of the housing market index goes up, we are now entering into the sweet spot where we should start to see some pretty decent gains in jobs solely related to the improvement of housing. liz: do you tailor your strategy advice at charles schwab to the jobs report? >> no. we did not make tactical calls around the jobs report. at all comes to play in terms of how the macro picture helps us the fine what are shorter-term -- we don't make a day to day or month to month trading call on the jobs number and suggest clients move money around. liz: what has it been like a charles schwab? is a giant in the industry when it comes to private investors and trading and people's account. i am sure people are anxious about the fiscal cliff. should they be as worried? are we overplaying it in the media?
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>> time will tell. i will say that mainstream does not seem to be as focus on this as wall street or businesses are. the answer to how big an impact is somewhere in between the perceived whistling past the graveyard the consumers are doing and the obsession we all have with wall street and probably is a reality. but i think what tends to boost consumers''s psyche, their incomes would be things like gains in housing, falling castling prices, the recovery starting post hurricanes and the. those come in to play and we have both stocks and houses, the biggest the components of net worth generally moving in the right direction. that, i think, is causing the confidence among consumers and we, wall street, the media, have been -- tired of talking about -- [talking over each other] liz: great job. thank you. one of the last things you said was one of the most important.
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the two things that are the biggest network for people, stocks and housing, the home that they own, property moving in a decent direction. >> which has not been the case with housing the last several years. liz: liz saunders gets it right so often, thank you, great to see. closing bell ringing in 49 minutes. he is a leader in the board room and in the locker room. td ameritrade chairman joe moakley of happens to the head football coach at coastal carolina, a rookie, college coach, find out what he is saying about the downsizing on wall street. the retail investor, the retail investor will ever come back, and even talked to him about fast tracking dividends to be generated more trading on the td ameritrade web site? all coming up next in a fox business exclusive. i aays wait until the last minute.
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liz: investors piling in for the
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power mover, and making it power mover of the hour. speedup content delivery of broadband networks and the company coming to terms with at&t on a multi-year deal. i will tell you about the terms of the agreement but it is a great move here and this is a one month chart so not bad at all. let me show you one year so you get a better sense what is going on. at&t will provide content delivery to at&t's business customers so what is content delivery? at&t has a broadband network with an insatiable demand for bandwidth. we are talking about streaming video and run-of-the-mill content used to power websites. you can see it is where it has been for the highs of the year slightly but me depress you and show you a three year picture and we are off of the three year highs. let's look at the fox 50 year. johnson and johnson and microsoft straddling the line. nicole petallides on the stock
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exchange with the good and bad in social media stocks. nicole: i liked when you said in satiable demand for bandwidth and it is true because it is hot. let's look at the zynga and yelp. let's start with zynga. of the nose zynga, whether you love it or hate it, the truth is you have an up arrow for zynga because they are working closely with nevada in order to secure nevada gaming rights so that will add to their revenue. there is the stock, up $0.16, a gain of 7% at $2.47 a share. then we will take a look at yelp. it turns out a homeowner, actually gave a scathing review and not a good one about contractor accusing him of damaging her home and telling her that she has got to take parts out and questions freedom of speech and judges are
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involved and basically questions of the value of the whole thing altogether. if you can't have realistic reviews. there is the stock on yelp which is down 4%. liz: i can't even look at yelp because every review looks like somebody has a bone to pick or there is a competitor or something. thank you very much. that is my $0.02. what do coaches and ceos having common? leadership, the ability to put together a successful team, td ameritrade chairman on both sides, the head football coach at coastal carolina, first year, the team made the playoffs, good for you. he joined us on fox business. we go back, you have a passion for coaching back in the day when you were at dartmouth, a split interview because we have to hear what is going on when it comes to the actual trader and
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layoffs that banks. the biggest trend since we talked is all these companies are fast tracking dividends to be the fiscal cliff clock. is that spurring people to get off of the sidelines and trade stocks? they see any change or trend? >> reality on something like that, and the entire market was well aware of where obama was headed and once he won the election it was a reaction in the market. the client base is difficult to make the right decision, you don't know what the facts are. will be a question later on. there has not been a lot of trading in dividend stocks and because of the reason for that, an overriding concern what is going on with the fiscal cliff. people waiting to find out what is going to happen. liz: from your perspective and you guys are among the biggest, you're not seeing people jumping in and saying these companies are paying out early dividends.
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>> as far as our client buying or selling, no. the rationale is simple. you don't know what the rate is going to be an don't know what your tax is going to be and if that is the reason you bought the stock to begin with it might make sense if it goes up 5%, won't makes sense if it goes up 30% so the client base is smart enough to recognize that. liz: td ameritrade added dividend of 2.6% consider fast tracking its dividend. >> the entire management team as well as the board will always think about the long-term best interests of our shareholders and that is something we would look at. liz: is that at yes or a know? >> those are things we would look at, decision along those lines hasn't been made. if they would you would be the first to know. liz: thank you. keep asking you that year after
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year. let's get to the supersized bank here we have seen, citigroup cutting 11,000 jobs and it is a smaller percentage than most people might think of the work force. we have seen 30,000 jobs lost in the financial world, my question is is the era of supersized banks over? seventeenth in the company at one point. >> at the end of the day, what took place in 2008, this is financial armageddon. you can't go through something that series without a longer-term impact. you haven't seen a rebound in housing so all those in our part of it so while we are going through an environment with incredibly low interest rates, the financial sector is not making the money they once were. they need to be able to adapt and make some cuts. eventually at some point in time
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there will be a light at the end of the tunnel but right now is just management potentially cutting back to make sure they have got realistic numbers relative to what is going on today and tomorrow with regard to the economy. liz: only adds more fear to the market, the retail trader, the investor has been sitting on the sidelines. you know that as well as i do. e di ameritrade down, the stock down 20% since september of 2009. there was so much fear their and trading volumes of not gotten back to the heyday. what would get the retail investor off of the sidelines? >> number one, clarity. you talk about that an awful lot depended on the market place. once we get some sort of resolution in terms of what is going on with the tax structure and to tighten cuts and incremental revenues, what is happening with the whole fiscal cliff mantra? once they have an understanding of what is going on and there's light at the end of the tunnel and the marketplace perceive that as something that will lead
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to economic growth in the united states u.n. absolutely see the individual investor get back and think aggressively. they're waiting and watching. liz: we have got to talk about perfect that you are now a coach again. you went back to your dream job, your coaching in coastal carolina. i love the cover of the book that has been written about you, it shows a guy with a briefcase heading back on to the field. what has that been like for you? what has the journey like? >> the journey itself for me has always been as much as i love football, what always impacted me most in the business world was the impact you might be able to have on others and for me it is about an 18 to 22-year-old boy learning to be a man and stand on his own two feet and a accept responsibility for himself and understand the needs to learn the consequences of his actions, helping him with his wife when football or college is over with. have an impact like that, i can't imagine another field of
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endeavor that is more rewarding than having that kind of impact on the young man. you would know that from raising your family and as they get older that is what i'm trying to do. liz: i am proud of you. you are really an example. it is never too late to go for that dream. congratulations. >> that means so much to me, thank you so much. liz: thank you ag, happy holidays. >> you got a birthday coming up. liz: i do. thanks for reminding me. the tenth annual twenty-nine cabarrus they. td ameritrade chairman and coach of the coastal carolina, we will be back in just a minute. we are holding on to these grinding higher moves up 14 points. want to y to crack it? yeah, that's the way to do it!
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liz: high profile banking analyst dick bovey is a wanted man, not by the law, but by a
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bunch of firms who are dying to hire this guy after his old firm blew up over a bad trade. charlie gasparino has the latest. >> yeah. there's one guy at rock dale was a wanted man by the fbi -- liz: the dude who ran the bad trade. >> he was arrested two days ago for trading unauthorized a billion dollars' worth of apple stock and, essentially, losing money and imploding the firm. the firm is shut down until they get new capital. since that time, dick boy say's future, he's kind of in purgatory, right? i tell you, the guy who runs rock dale thinks he's going to get financing, and bove told him he's going to stay if he gets financing. sources telling fox business network that bove, one of the guys that were key talking heads during the financial crisis, you got a lot of information from him when things were getting bad back in 2007, 2008 and 2009.
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now he's up for sale, so to speak. five offers, i heard. now, these are legitimate powerfuls. he pared down, from what i said, 17 offers. liz: when you're good, that's what happens. >> i should point out, it's 17 like sort offed -- of interested parties. he's got five contracts he's staring at right now, and days away he's going to be making a move. now, why do you guys care about this? liz: because he's right, he's good. >> he's a pretty good analyst, and in terms of explaining wall street to maybe street, dick -- to main street, dick was one of the guys who did that. and he's been silent lately. do they revive -- they're, essentially, shut down by securities regular laipters until they get more capital. if they do get more capital, crowley tells me they will, he'll stay. so this is why we're doing this. this is, you know, not just the guy at the water cooler. like i said, one of the premier guys of bringing wall street to
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main street is dick bove. he explains things pretty understandably, unpacks very difficult banking issues for a very retail audience, and he -- listen, when he calls up jamie dimon, jamie dimon does pick up the phone and listen to him. he's got that type of access, and he will be reemerging soon, probably with another firm. this guy, crowley, he's a nice guy. very nice. he thinks dick is going to stay with him, and maybe dick will. um, i am talking to people that tell me unlikely. he's going to take -- he's going to hit one of the five bids. you know -- liz: doesn't he live down in florida, is that where he is? >> yeah. i think that's why he liked rock dale, whatever the hell -- liz: rock dale. >> he lives down there with his family, and he was able to do that, sort of live down there and do his work. liz: 17 interested parties, he probably can write his own ticket. don't you wish that happened to to you? it's amazing. [laughter] >> people are getting laid off,
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dick bov's getting 17 offers. here's the other interesting part, i always thought rock dale was like dick bove and his daughter -- there he is. he's calling me right now. [laughter] i didn't realize, they actually have a firm, a big firm. it's -- not big, small, but they had 60 people working there. it was more than dick -- liz: dick bove of rock dale, everybody then got to know rock dale. >> it was only dick bove. and i thought, you know, this guy crowley runs it -- liz: smart people there as well. >> he had that one guy that traded apple. [laughter] liz: jerome -- [inaudible] made that evil back room trade. >> remember when you had the london whale over at jp -- liz: all it takes is one guy. >> but, remember, those big firms, they can survive that. it was him and a bunch of them. liz: well, they had some superiors. >> all involved. but when you've got a small firm, i'm just happy to report that rock dale's more than dick
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bove. liz: i'm sure crowley would appreciate that. does he have a first name? >> dan crowley. liz: good luck, dan. [laughter] alistair crowley. do you know who that is? liz: i know who alistair cooke is. >> no, the famous satanist. liz: that i didn't know. >> you have red hair, you should know about satan. liz: yes, we're the devil. thanks, charlie. what exactly is technical rally? we've got a really supersmart chart watcher who's going to explain to you in plain, simple english when you should be buying the s&p, when you should be selling. gold as well. what a wild prediction he's got on that one. you've got to hear bill strazzullo, telling us why the charts are telling him to sell gold and buy financials. it's a fox biz exclusive. ♪
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>> i'm adam shapiro with your fox business brief. stocks continue to drift between gains and losses today as the fiscal cliff negotiations once again are a focus for investors. right now the dow is up roughly 35 points. a new survey shows plans by small businesses to hire workers fell to their lowest level in three years last month. according to the quarterly wells fargo/gallup small business index survey, 21% of small business owners plan to cut payrolls while only 17% plan to boost hiring. the survey comes just one day ahead of the labor department's big monthly jobs report.
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sales of homes facing foreclosure jumped 22% in the third quarter outpacing sales of bank-owned homes. the latest data reflects increased efforts by lenders to avoid foreclosing on homes with unpaid mortgages. short sales accounted for 65% of properties in some stage of foreclosure. we continue our "countdown to the closing bell" with liz claman. ♪ liz: see, adam used to -- something's wrong, because he used to say with the woman who, dot, dot, dot, loves the cleveland -- >> i'll go back to that. i'll make fun. i'll have fun with you. [laughter] liz: all right, i'm going to believe you. tomorrow. nicole, let's get to you at the new york stock exchange with eyes on a possible energy takeover. >> reporter: i agree with you, liz. adam used to say a lot of cute things, the woman who loves the cleveland browns, little tidbits about liz claman. i enjoyed it too, adam, go back to that. [laughter] a hot stock to watch, and that's
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walter. when you look at walter energy, basically, we've been hearing that bhp billiton are said to be eyeing the coal producer, so this is according to british newspapers about whether or not anonymous sources are saying that bhp is stepping in. then there's others who are saying that it's glencore. everybody wants to take over walter industries, this is all, of course, just speculation that we're reading from the sources and on the wires, and that explains why you see this coal producer jumping 6%. big move for walter energy today, back to you. liz: nicole, suddenly the dow has doubled its gains, we were up about 14, 15 points, we're now up 31, 32. sandra, what are you looking at? >> i want to bring up an intraday chart, and while a 32-point gain isn't substantial, it is the highs of session, and it's very similar to what we saw in yesterday's trading session right at the end of the day. we reached -- here's a two-day chart. this is the end of the session
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yesterday. highs right as we were closing up at in this time yesterday. so sort of a bullish trend to see that happen. also, by the way, if you look at the same chart with the s&p, s&p cloalzed at its highs of the session yesterday. just off them now but still holding on to a gain of about three and a half points. lots of movers to look at in today's session. lu lu lemon up 3% in today -- 7% in today's session. up 54% so far this year. it just continues to crush, guys, beat earnings expectations. same-store sales up 18%, but it's pretty pricey, guys, the pe's 48 here. men's warehouses put out a big warning, lower forecasts than what was expected for the fourth quarter in the year, same with vera bradley that makes those wild print bags that young girls as well as older women like to use. smith and wesson, this is going to be one to watch after the
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bell tonight, guys, gun sales have been way up. smith and wesson up 170% so far this year. and it's still pretty cheap. the pe is still just 16. liz, while we watch that after the bell, remember, they have beaten the last four quarters on their earnings per share, and they just raised guidance, so that's one to watch. liz, as i happened it become to you, look at the dow. leading the way, the trend definitely technology stocks, intel, cisco. those are your biggest leaders here as the dow does reach session highs. liz: i was thinking of you, because i was in l.a. on thanksgiving, and i got crazy. i bought three pairs of lu lu lemon -- >> love them. liz: but felt so guilty, i returned one of them. [laughter] sandra's a big track star. closing bell ringing in 17 minutes. when should you be whying and sell -- buying and selling in this unpredictable market? we're bringing in an expert who will explain it all to you. bill strazzullo to break it all
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down. he looks at the charts, picks them apart to make bullish and bearish calls. you've got to see his one on the gold trade. don't move. ♪, before copd... i took my son shing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought thse days might be over. so my doctor prescribesymbicort. it helps significantly improve my lung function starting within five minutes. symbicort doesn't replace a rescue inhaler for sudden sympms. with symbicort, today i'm breathing better. and that means...fish on! symbicort is for copd including chronic bnchitis and emphysema. it should not be taken more than twice a day. symbirt may increase your risk of lung infections, osteoporosis, d some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking it. with copd, i thought i'd miss our family tradition.
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liz: breaking news, a bizarre twist in the ongoing story of software guru john mcafee. he's been on the run since he felt he was being accused of murdering his neighbor in belize. he long ago sold the company, but this morning the news was he had entered guatemala ill rely as he was on the -- illegally as he was on the run. he suffered two minor heart
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attacks after being arrested. he was carried out on a stretcher from an immigration service cottage where he had been detained after crossing illegally into guatemala. this is a police story, this is a business, i guess, interest story. you know, he was a -- the founder of a big company, lost a lot of the money he had made in the early days of that company and now in a bizarre move after having been accused possibly, or he thinks he's being accused of killing his neighbor in belize, he tried to get into adequate mall la, he's been hospitalized. reporters are descending now. look at shares of starbucks, brewing up following the coffee chain's analyst meeting. the company announced plans, as you know, to open 3,000 stores in the next five years. that was yesterday. growth overseas is picking up. china and asia pacific will have nearly 4,000 locations by the end of 2013. shares of the company up about 20% over the past year, nice move there but off the highs of the year. so we have these worries about the fiscal cliff, they seem to be holding, the markets or at
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least the psychological of a lot of investors hostage. so once the dust finally settles, what's the s&p's next move? joining us now in a fox business exclusive, not just the s&p, bill, right? bill strazzullo's joining us, chief market strategist at bell curve trading. good to see you. >> good to see you, liz. look, i think -- go ahead. liz: no, i was just going to say, you know, it's not just the s&p, but, of course, that's the broad indicator of what a lot of people look at and invest in, so how should they be viewing this on a day-to-day basis? >> the first thing you have to do, liz, is just be very disciplined. we've had a really nice run mapping out buy and sell levels and not getting caught in the between moves. for instance, right after the election we advised our clients we should get a good-sized down move. we got 'em short at 1430 in the december s&p, futures caught the move all the way down at 1350 and then turned around and said, look, we should rally back to the 1400 area. that's exactly what happened. we didn't chase headlines, we
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didn't try to catch every wiggle in the market, and for the people watching, the important thing to keep in mind now is we're getting close to the end of the year. the markets are going to get increasingly thin and illiquid. pile on the headline risk not only coming out of europe, but also with the fiscal cliff negotiations. the bottom line is it's going to be very difficult to maneuver in tight spaces, so widen it out. for us that means in the s&p we want to pie 1340 to 1320, and as the market gets up to the 1430 area and above, we want to reduce our equity exposure. in the dow call it 12,5 to 13,5. in the nasdaq 100, 2400 to 2800. liz: okay, hold on. let me just hold on the s&p because that's what we have here. 1320 to 1340 buy in when it hits there, and can then, of course, sell. >> right. liz: so this requires real involvement on behalf of the investor, doesn't it? >> well, i -- the point is, liz, we, as i said, you've got a lot of headline risk, a lot of back and forth with the news stories.
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the point is to be disciplined. map those levels out, and then don't get caught in between. so i think if 1340 to 1320's a great place to add to your equity exposure, and then as we get up to the 1430 area and above, you want to reduce your equity exposure, and don't get caught in between. liz: sorry, i interrupted you because i wanted to make sure people were following, because you've got that new york thing going, or is it boston? >> a little bit of both. liz: i thought so, because you went to around saturday. let's go to the nasdaq. >> nasdaq 100, you know, i think we want to play on the wide, 2400 to 2800, maybe 2850. the dow, 12,5 to 13,5. and over the next several months, liz, i think it's going to be a trader's market until we gain more clarity not only on the fiscal cliff, but also on what's going on in europe and the state of the economy in china. so i think the next several months are really going to be much more of a range gain, and
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that's what we're trying to lay out for the viewers, where are the good places to buy and sell. liz: but, bill, you're making quite the call on gold for 2013. how low do you think this goes? >> it's a good question, liz. i mean, we basically started advising our clients around the middle of september to short gold. now, what's interesting about that, that was right around the time of the qe3 announcement. all the good news was priced into gold, and everybody was on the same side of the boat. we told our clients we want to get short, 1790 to 1800, and we had a long position from 1670 up to 1750. what i want to do right now is i want to sell gold futures, 1715 to 1730. i think you could catch another 80, $90 on the downside somewhere down to 1640, 1630, it. >> you believe gold is going to possibly 1400 an ounce?
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ounce? >> well, i think, put it this way, liz, everybody's asking the question how high can gold go, especially after the qe3 announcement. and i don't dispute the fact that bigger picture gold may go much higher but that's the wrong question right now. the right question is in is short to intermediate term is how low can it go before it stabilizes. and, again, we've been sort frrm the 1800 area. i think you've got a good chart to get into the low 1600s, and i wouldn't be surprised if you even push it lower than that. liz: well, despite weak price action, yours is a contrarian call, so i find that really fascinating. quickly, what do you like in ec equities, financials? you believe these are the ones that are going to rear their heads. >> yeah. if we want to break it down into sectors, i like the financials. banks in particular probably had the best quarter out of the last three years. buy the xlf, go to 1740, 1750,
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there's another 10% upside. look at the rth, retail. i think you can get another 5 or 7% to 4750, $48. and then lastly, the industrials, xli, i think there's another 5-7% upside there. play it up to $40. liz: i'm going to have a dinner party just to invite you and scott black of delphi. can you imagine those guys together? [laughter] have a great weekend. thank you so much. good to see you. bill strazzullo, bell curve trading. dow jones industrials up 35 points, we'll be right back. sixf kn minutes -- 2350eu6 -- f, toct the closing bell. ask if your heart is healthy enough for sex. do not take vgra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects inude headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for anrection sting morehan four hours. stop taking viagra and call youdoctor right away if you experience a sudden decrease or loss in vision or hearing. this is the age of taking action. viagra. talk to your doctor.
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she also likes to ride herike. she knows the potential for making or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, noatter how wily... or weird... or wonderfully the market's behaving... which isn't rocket scienc it's just common sense from td ameritrade. liz: so with it was about 17 minutes ago that we were up 15 points and suddenly double that to about 30-32 became the high of the session, sandra smith and i were talking about it just at
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that moment. david: a lot of questions at the end of the day in the terms of what would happen to apple. apple in the beginning of the day was really shaky, but it's coming back with conviction. there are other stocks that have been beaten down that seem to be getting over some of the doldrums that happened at the end of the day yesterday when it was a wild ride on certain stocks in particular. we're going to be talking, by the way, speaking of apple, coming up with an analyst who's going to tell us why it is that apple is so far off its highs and whether or not it's ever going to get back to those stellar positions that it took when it was above 700. liz: and you would have thought that with all the news coming up about tim cook who now leads the company saying we're going to bring back manufacturing to the u.s., he's finally giving interviews, but nonetheless didn't really do that much for the sttck, did it, nicole? she's on the floor of the new york stock exchange looking at a whole bunch of names. >> reporter: that's right. we were talking about akamai earlier and the demand for

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